Related

Critical flak couldn't stop these Jersey boys from becoming one of contemporary rock's most beloved bands

"The truth is, I had hoped this day was going to come and ... initially you think about these big rock stars and the truth is I only had one choice," Bon Jovi said. "Our careers have paralleled in a lot of ways – whether it was the ups or the downs – we've come through everything together and we do this at this point because we love the people we work with ... and the truth is nobody knows not only me but the members of the band as well as Howard."

"I am so honored that you asked me. I am thrilled to do it," Stern said.

The Rock Hall's Class of 2018 also includes Nina Simone, Dire Straits, Moody Blues, Sister Rosetta Tharpe and the Cars. The 33rd annual induction ceremony will take place April 14th at Cleveland's Public Hall. The ceremony will be broadcast on SiriusXM as well as HBO.

On Tuesday night, Bon Jovi appeared on the Late Show With Stephen Colbert to talk the Rock Hall honor. "It truly does me a lot. We had been looked over a couple times, and it's really an honor to consider you being in the same building as the greatest of the greats, whether it's Elvis or the Beatles or the Stones," Bon Jovi said. "Just the idea that the music that you made has been known to generations of people makes you feel good."